UAE’s ADNOC chief revises forecast and sees oil demand above 100mln barrels per day until 2040

UAE’s ADNOC chief revises forecast and sees oil demand above 100mln barrels per day until 2040.

The ADNOC chief's forecast of oil demand exceeding 100 million barrels per day until 2040 signals robust long-term fundamentals for the oil market. This revision may suggest sustained price support for WTI and could influence OPEC's production strategies, particularly in balancing supply against rising demand expectations. Traders should watch for reactions in energy stocks and related commodities as this outlook implies extended bullish sentiment.